AUSTRALIAN STOCKS STALL: Here's what you need to know

A women dressed in medieval clothes at the World Jousting Championships in Sydney. Mark Kolbe/Getty Images

Australian stocks closed marginally higher.

Today’s scoreboard:

  • ASX 200: 5,683.70 +1.56 +0.03%
  • All Ordinaries: 5,741.70 +1.13 +0.02%
  • AUD/USD: 0.7961 +0.0007 +0.09%

The local market cruised to a flat close, with the ASX200 still firmly below the key 570 point mark.

The major banks were mixed, with Westpac up 0.7% to $31.86 and the Commownealth down 1% to $75.81.

Solomon Lew’s Premier Investments, the owner Smiggle, Portmans, just Jeans, Dotti and Jay Jays, fell 2.5% to $13.40 after announcing its annual results showing net profit just 1.2% higher at $105.14 million.

Seven West Media, going ex-dividend, was down 5.5% to $0.685.

Top stories:

1. The gas crisis. Turnbull says the shortage is three times worse than anyone thought. Also read: east coast faces a gas shortage so huge it’s the power needs of 55 major towns for a year.

2. Serious trouble building in the Australian apartment market. ANZ has an extensive list of suburbs in and around Brisbane and Perth that will be subject to stricter lending requirements for borrowers.

3. Same-sex marriage survey. Here’s how you can still vote if you’re an Australian living overseas. Also read: What to do if you don’t have a same-sex marriage postal ballot paper by now.

4. Sydney fintech RateSetter just raised $10.5 million. The investment was led by Five V Capital, which reportedly put in $8.5 million, with support from other new professional investors and existing shareholders.

5. AGL and executive pay. Shareholders will this week test the backlash against big bonuses.

6. LIFT-OFF. Australia’s tech industry is over the moon about the new national space agency.

7. This founder of a Sydney startup has just been selected for the Airbus BizLab accelerator in Germany. The 26-year-old, Alec Kemmery, could fly a plane before he could drive a car.

8. What next from the banks? Treasurer Scott Morrison hints they might move on credit card charges next.

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